2.5k-word paper
Hull University Business School
Connected Thinking!
Business Strategies 2019
Dr. Giles A. Hindle
600552
Summary to the module – Week 10 Session B
Dr. Giles A. Hindle E: giles.hindle@hull.ac.uk T: +44 1482 463 457
What is Strategy?
• What do you associate with the term strategy?
• What do you think of when you hear the term?
Our Definition
… the direction and scope of an organisation over
the long term, which achieves advantage in a
changing environment through the configuration of
resources and competencies with the aim of
fulfilling stakeholder expectations.
Johnson, Scholes and Wittington
Characteristics of Strategy
• Long-term and organisation-wide
• No right answer – uncertainty, values
• Involving significant commitments and resources
• Not easily reversible - ‘sunk cost’
• Critical but risky: complexity & uncertainty
• Limited resources, but deliberate choices
What are Strategic Issues?
• The performance of the organisation.
• The long-term direction of your organisation.
• The scope of your organisation’s activities.
• Your advantage over the competition.
• The fit with the environment.
• Your resources and competences.
• Actors and stakeholders in the organisation.
Searching for Differences?
•Strategy … often means performing differently from our rivals
•It is about deliberately choosing to be different, have a clear identity
•You can’t be all things to all people
Analytical Framework
Strategy
Organisation
Powerful actors
Mission and goals
Culture and values
Resources and capabilities
Structure and systems
Environment
Broad: Political, economic, social, environmental, legal.
Industry: entrants, substitutes, buyers, suppliers
Markets: strategic groups, market segments, customer value
threats
opportunities
strengths
weaknesses
The Exploring Strategy Framework (p.12)
Strategic Management
•The strategic role of a manger •A manager must:
• Understand the strategic position of the organisation; • make strategic choices for the future; and • manage strategy in action.
Strategic Mapping Political Economic Social Technological
The Business Model Canvas
Osterwalder and Pigneur (2010)
A way of exploring the holistic nature of a business unit, service or any type of organisation.
Strategic Importance
R e la
ti v e S
tr e n g th
L o
w
Low
H ig
h
High
Superfluous Strengths Key Strengths
Key WeaknessesZone of Irrelevance
Appraising Resources and Competencies
Contemporary Strategy Analysis, 9th Ed. © Robert M. Grant , John Wiley & Sons Ltd., 2016
Porter’s Three Generic Strategies
Source: Adapted with the permission of The Free Press, a Division of Simon & Schuster, Inc., from Competitive Advantage: Creating and Sustaining Superior Performance by Michael E. Porter. Copyright © 1985, 1998 by Michael E. Porter. All rights reserved. Johnson, Whittington, Scholes, Angwin and Regnér, Exploring Strategy Powerpoints on the Web, 10th ed., ©Pearson Education Ltd. 2014
1
4 Corporate Strategy Directions
Source: Adapted from H.I. Ansoff, Corporate Strategy, Penguin, 1988, Chapter 6 . Johnson, Whittington, Scholes, Angwin and Regnér, Exploring Strategy Powerpoints on the Web, 10th ed., ©Pearson
Education Ltd. 2014
Images: By Mieremet, Rob / Anefo [CC BY-SA 3.0 (http://creativecommons.org/licenses/by-sa/3.0)], via Wikimedia Commons and https://www.amazon.com/Corporate-Strategy-H-Igor-Ansoff/dp/0070021112
Igor Ansoff
Corporate Strategies • Consolidation/divestment – operation scope
• Integration/outsourcing - activity scope
• Diversification/focusing – industry/market scope
• Globalisation/localisation - geography scope
• Partnering - relationship/resources scope
Low
High
Cirque du Soleil
Traditional circus
The Strategy Canvas can help identify blue ocean strategies by exploring new combinations of product attributes
Cirque du Soleil
Contemporary Strategy Analysis, 9th Ed. © Robert M. Grant , John Wiley & Sons Ltd., 2016
Identify relevant stakeholders and create multidisciplinary group of
actors for system delivery; appreciate roles, responsibilities &
practices of HCPs
Appreciate Best Practice and design the process for
developing Medical Standards
Develop Medical Standards (MSs)
Give advice on FtD through HCPs in
consultations
Establish MSs and their application in (a) educational systems
and (b) on-going training programmes of
HCPs
Promote MSs to HCPs and the public:
Use marketing tools Raise public awareness
Target problematic HCPs, patients and medical conditions
Make MSs available to HCPs and the public:
Design various forms of presentation;
use media + IT systems
Appreciate evidence on Fitness
to Drive and medical conditions
Operate flexible administrative
system for processing licences
Activity Model
Design flexible license system
Giles.Hindle@hull.ac.uk
The Practice of Making Strategy
Problem X
Problem Y
Mapping
Analysis
Discussion: Improvements
& Actions Plans
involves expressed in
leads tochanges
The Group
points of view
Complex Situation
Structure of Action-Oriented Map
What do you want to do?
Why do you want to do it?
How would you do that?
Your STRATEGY
ACTIONS to achieve strategy
GOALS and consequences
“Ladder up”
“Ladder down”
Social system Analysis
• Based upon Vickers “appreciative system” (Checkland):
ROLES
VALUES
NORMS Continually
changing
interaction
Strategy Implementation